Realtor Instructions!
| All Freddie Mac/Homesteps Homes are listed on MLS. 48 Hours must pass before an Offer can be submitted. As of 2010, in the first 15 days of the Listing, Only Owner Occupied Buyers may present an Offer. On the 16th Day of the Listing, Investors may present offers. If your client is an investor and making an offer in a company's name, we will also need the name of the Member/Manager making the offer. |
| The Seller will NOT Agree to the Following: The Offer is Contingent on the Sale of Another Property Buyer wants to Occupy or Store Personal Items Before Closing Buyer wants to perform Repairs or Improvements to the home before Closing Buyer wants to receive Credits at Closing for Repairs not completed by the Seller Seller's Funds to be Escrowed Post Closing. Closing the last day of any month. |
The Listing Agent Submits the Offer Electronically
The Sales Specialist may Accept, Counter or Reject.
Should the Seller's Sales Specialist Accept, we still must have Upper Management Approval.
This can take up to 5 days for Upper Management Approval.
There is nothing this office can do to expedite this process.
Should your client's offer receive Upper Management Approval, three Addenda will be emailed to you.
The Sales Specialist may Accept, Counter or Reject.
Should the Seller's Sales Specialist Accept, we still must have Upper Management Approval.
This can take up to 5 days for Upper Management Approval.
There is nothing this office can do to expedite this process.
Should your client's offer receive Upper Management Approval, three Addenda will be emailed to you.
Earnest Money
Needs to be a Certified Check or a Money Order made payable to The Property Source, Inc.
Needs to be a Certified Check or a Money Order made payable to The Property Source, Inc.
!!!Important!!!
The Offer to Purchase, the three addenda, the certified EM and any other documents must be
presented to TPS within 72 hours in its entirety or the verbal agreement will become Null and Void!
The Addenda should be initialed and signed.
Do NOT alter the Sellers computer generated addenda.
The Offer to Purchase should be the same offer that the Buyer and Seller verbally agreed to.
Any changes would constitute a new offer.
The Offer to Purchase, the three addenda, the certified EM and any other documents must be
presented to TPS within 72 hours in its entirety or the verbal agreement will become Null and Void!
The Addenda should be initialed and signed.
Do NOT alter the Sellers computer generated addenda.
The Offer to Purchase should be the same offer that the Buyer and Seller verbally agreed to.
Any changes would constitute a new offer.
| Does the Seller do any inspections? No, TPS does not do a Home Inspection. Sometimes we have surveys if acreage is involved. Most homes have a termite report, not all. If no reports are attached to MLS, please contact the Listing Agent! |
The 4 Addendums to the Offer to Purchase:
1~A Commission Addendum, which you and I will sign.
2~The Home Warranty Addendum. This will be paid at closing. Once payment is received,
the home warranty package will be mailed to the buyer to the address of the Home they
purchased. For more information, please click on th link in the Left column.
3~An Addendum for Disclosures on the Termite Report and/or the Lead Based Paint Addendum
if applicable.
4~The As Is Addendum,
1~A Commission Addendum, which you and I will sign.
2~The Home Warranty Addendum. This will be paid at closing. Once payment is received,
the home warranty package will be mailed to the buyer to the address of the Home they
purchased. For more information, please click on th link in the Left column.
3~An Addendum for Disclosures on the Termite Report and/or the Lead Based Paint Addendum
if applicable.
4~The As Is Addendum,
| How To Present an Offer to the Listing Agent Submit OTP with Freddie Mac/Homesteps as "Seller" using standard NC offer to purchase Submit lender pre-qualification letter or proof of funds for cash Submit Summary for offer to purchase (see left column) |
The Contract is Executed!
The Listing Agent will prepare the home for Inspections.
Utilities are on, but the home may have to be dewinterized.
Once the home is ready for inspections and/or the Appraisal,
the Listing Agent will communicate with you by email to proceed.
Please do not set up inspections without confirmation from the Listing Agent.
The Listing Agent will prepare the home for Inspections.
Utilities are on, but the home may have to be dewinterized.
Once the home is ready for inspections and/or the Appraisal,
the Listing Agent will communicate with you by email to proceed.
Please do not set up inspections without confirmation from the Listing Agent.
Your Client's Offer is Accepted!
Upper Management has approved the Offer & will send the three Addenda electronically.
At this time we have a Verbally Accepted Offer!
Upper Management has approved the Offer & will send the three Addenda electronically.
At this time we have a Verbally Accepted Offer!
| Thanks! We look forward to working with you! The Property Source Staff. |
| The Following People are NOT Eligible to Purchase a Freddie Mac owned Home. HomeSteps or Freddie Mac Employees, Suppliers, Listing Agents, and/or Immediate Family Members of Employees Suppliers, and Listing Agents. |
Freddie Mac/Homesteps
which is the largest, and it may be reviewed here.
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The Property Source, Inc
| How to present an offer on a Freddie Mac Home! |
| Freddie Mac Homesteps Website |
| Summary for Offer to Purchase |
| Brochure for Home Warranty! |
| Please email the offer to Offers@tpsnc.com or you may fax it to 336.373.1811. A response can take up to three days. Numerous email and phone calls, do not speed up this process. (If you do not have Proof of Funds, you may still present your client's Offer. The Seller will counter wanting to see Proof.) |
